California Taxation: Tougher for Some, A Break for Others By Jason Morris Manager, Tax Services, RBZ, LLP (Note-RBZ LLP and LLG are both members of JHI, a growing global network of highly-regarded independent accountancy, business advisor and financial consulting firms in over 55 countries providing accounting, audit, tax and business consulting services in a wide...
Read MoreSmall business owners currently face many uncertainties regarding present and future economic conditions. While certain soon-to-expire tax provisions may be extended for another year or so in an effort to kick start the economy, there is no guarantee that will be the case. Prudent business planning entails taking advantage of any available taxbreaks while they are...
Read MoreFederal legislation over the past few years has brought about additional tax law revisions relating to retirement and other benefit plans that go into effect for 2011. The following are highlights of some of the lesser known provisions. “Simple Cafeteria Plans”. Beginning in 2011, small employers (generally, those with an average of 100 or fewer employees on...
Read MoreGenerally, taxpayers can use their actual expenses when calculating the deductible cost of operating an automobile for business, medical, moving expense, or charitable purposes, or they can utilize an optional standard mileage rate set by the IRS. The IRS has recently revised the optional standard mileage rates used for computing the tax deduction for operating an...
Read MoreThe Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (“2010 TRA”) was enacted on December 17, 2010. The legislation postpones certain sunset provisions under The Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”) relating to federal individual income-tax rates (commonly referred to as the Bush-era tax cuts). The Act...
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